CG Power's Axiro leads SiC chip round for Silicon Valley's ThinSiC
What's the deal? Axiro SemiconductorDealroom has a profile for this one. Try Dealroom →, a wholly-owned subsidiary of India's CG Power and Industrial Solutions, has led a financing round in ThinSiC, a Santa Clara-based maker of low-cost silicon carbide (SiC) power devices. The deal, announced in October 2026, also establishes a long-term commercial partnership between the two. The round size was not disclosed.
What's the endgame? ThinSiC builds high-voltage SiC power devices for electrification, power transmission, and industrial systems. The partnership aims to speed development and commercialisation of the technology, targeting applications such as rail traction, industrial drives, and grid infrastructure.
Why now? The investment extends CG Power's push into semiconductors beyond chip design and assembly into power devices. Bengaluru-based Axiro, part of the Murugappa GroupDealroom has a profile for this one. Try Dealroom →, is building a portfolio that spans RF, mmWave, and advanced connectivity; power electronics is the newest addition.
What's in it for ThinSiC? CG Power's presence in India's power transmission and industrial infrastructure gives ThinSiC a commercial channel in the country. Axiro chief executive officer Naveen Yanduru said cost is the main barrier to SiC adoption, adding that "ThinSiC's technology addresses exactly the cost and scalability challenges that have held high-voltage SiC back."
The signal: The deal lands as India builds domestic SiC capacity, with RIR Power Electronics planning a US$83.9M facility in Odisha and the government backing a larger fab with Scotland's Clas-SiC. With no financials or technical milestones disclosed, the move reads as strategic positioning rather than evidence of near-term production.
Read more: investywise.com
Image credit: Generated with Gemini
